Isopropyldiphenylphosphine is primarily used as a ligand in organometallic chemistry and catalysis. It plays a significant role in facilitating various transition metal-catalyzed reactions, such as cross-coupling reactions, hydrogenation, and hydroformylation. Its application extends to the synthesis of fine chemicals and pharmaceuticals, where it helps in forming complex molecular structures with high selectivity and efficiency. Additionally, it is employed in the development of advanced materials, including polymers and coordination compounds, due to its ability to stabilize metal centers and modify their reactivity.